Get a Decision in Principle

Woman looking out at view

Your home may be repossessed if you do not keep up repayments on your mortgage.

What is a Decision in Principle?

A Decision in Principle is a quick check to tell you:

if we can lend to you
how much you could borrow.

This is the first step before a full mortgage application.

A Decision in Principle:

takes as little as 10 minutes to complete
will not affect your credit rating
lasts for 90 days
is often needed if you are buying a house.

Ready to get your Decision in Principle?

You must:

use the mortgage for the property you will live in
have all your income paid in GBP (£)
not use any of your mortgage for debt consolidation
be 18 or over
read our lending criteria to help your application go smoothly.

For each applicant, we will ask you for:

your income
regular outgoings
your address history for the last 3 years.

Get a Decision in Principle

Online

You can apply online for an instant decision if you’re happy to continue without any advice (find out more about advice), and:
you do not already have a mortgage with us
you are not applying for our 5K Deposit Mortgage
you do not want to apply for an Interest only mortgage
you do not plan to retire during your mortgage term
If you want advice or cannot apply online you can still call us.

Over the phone

Talk to our mortgage specialists.
Monday to Friday 9am to 5pm 
Saturday 9am to 1pm 
Calls to 03 numbers are charged at the same rate as 01 or 02 numbers from all phones.

If your Decision in Principle ends

How to get another Decision in Principle

1
Log in to retrieve you expired Decision in Principle.
2
Check your details are still correct.
3
Resubmit the form to get an updated Decision in Principle.

Before applying, check your options with our mortgage calculators

Borrowing calculator

Get an idea of how much you could borrow for a mortgage.

Repayment calculator

Get an estimate of what your payments could be each month.

Decision in principle

This tells you if a lender can lend to you and how much. It can be a good idea to do this before looking for a home.

How to apply for your mortgage

There are two ways you can apply for a mortgage with Yorkshire Building Society:

  • Without advice ('execution only') - online.
  • With advice over the phone.

Getting a Decision in Principle online without advice

If you apply for a Decision in Principle online, this is known as an 'execution only' application. It’s designed for those customers who have a good understanding of the mortgage application process and have identified the product they want to apply for.

It does mean that you won't be eligible to receive advice on your mortgage application.  But if you change your mind and decide you would like some advice once you’ve started your application, you can swap how you apply for your mortgage from online to over the phone.

Please note that if you have previously spoken to us over the phone about this application and decide to proceed with your own choice by applying online, then any advice we have given you will no longer apply.

Before applying for your mortgage online, you must be aware of the following:

  • The product you wish to apply for including the interest rate and term of it.
  • Interest rate type e.g. fixed, or variable.
  • The early repayment charges associated with the product.
  • The price or value of the property you are looking to purchase.
  • The amount you want to borrow.
  • The length of term required.

If you choose a mortgage without advice (execution only)

  • You should be comfortable choosing the right mortgage without our advice.
  • We won’t advise if the mortgage you select is the right choice for your needs, which means that you’ll be giving up the benefits of Financial Conduct Authority protection on mortgage suitability.
  • We will still assess whether you can afford the mortgage.

 

If you are unsure about any of the above, a mortgage application with advice may be more suitable for you.

Benefits of receiving mortgage advice

A mortgage is likely to be the largest financial commitment you make in your life, therefore you may benefit from speaking to one of our mortgage advisers over the phone.

A mortgage adviser will be able to review your incomings and outgoings and make a suitable mortgage term and product recommendation to suit your individual needs.

An adviser will be able to provide guidance on the following, amongst other points depending on your circumstances and needs:

  • Mortgage term.
  • The interest rate on your chosen mortgage deal vs the product fee you may have to pay for selected deals where the interest rate is lower.
  • The affordability of the loan.
  • If a fixed or variable rate would best suit your circumstance.